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ruchir-vaishnav
Level 1

Hello, Do Employee Elective Deferral contributions towards solo 401k have to be reported on Form 941 and 940?

 
2 Comments 2
RenjolynC
QuickBooks Team

Hello, Do Employee Elective Deferral contributions towards solo 401k have to be reported on Form 941 and 940?

I'd be glad to provide the information you need, ruchir-vaishnav.

 

The contribution will decrease the amount on box 2 of the 941, and will not be reported on the 940 forms. You can check out this article on how the it is reported on the other federal forms: Supported pay types and deductions explained. Go to the 401(K) / 401(K) catchup section.

 

If you need more clarifications, please don't hesitate to get back to me. Have a good day!

ruchir-vaishnav
Level 1

Hello, Do Employee Elective Deferral contributions towards solo 401k have to be reported on Form 941 and 940?

Thank you much.

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